... QUIZ SOLUTIONS: 1.b 2.c 3.a 4.b 5.c 6.d 7.a 8.c 9.a 10.d Flexible Budgets, Variances, and Management Control: I 93 CHAPTER QUIZ [CMA Adapted] Flexible budgets a b c d accommodate changes in the inflation ... across companies Flexible Budgets, Variances, and Management Control: I 95 WRITING/DISCUSSION EXERCISES Distinguish a static budget from a flexible budget How is the preparation of a flexible budget ... be considered Top management must take the lead in emphasizing achievement of total organizational objectives rather than a piecemeal approach Flexible Budgets, Variances, and Management Control:...